Gold is the metal that Indians widely use to acquire a gold loan; hence, now Augmont is giving the facility of taking a gold loan online.

Our income is often a victim of the “limited resources for boundless needs”. We frequently have needs or wants, but our budgets forbid us from making purchases. Although increasing one's income looks like the perfect solution, it is not something that can be done quickly.

This is where outside funding, or loans, comes into play. For outside funding, people prefer taking gold loans. Now, you can also take advantage of a gold loan online.

Loans boost people's finances so they can make purchases even if their wealth or income could not otherwise make it possible. This is where outside funding, or loans, comes into play.

Loans boost people's finances so they can make purchases even if their wealth or income could not otherwise make it possible.

This is where outside funding, or loans, comes into play. Loans boost people's finances so they can make purchases even if their wealth or income could not otherwise make it possible.

This is where other funding, especially loans, comes into play. Loans boost people's finances so they can make purchases even if their wealth or income could not otherwise make it possible.

Personal loans are far more adaptable and can be used for all of the aforementioned purposes and others. However, because they are unsecured, personal loans can be extremely expensive with comparatively short repayment terms.

But what if you have another alternative option instead of taking personal loans? Another best option would be a gold loan, which can cover your emergency requirements without difficulty. This blog will learn more about gold loans and how to apply for a gold loan online.

What is a Gold loan?

A “Gold Loan” secured financial transaction requires gold jewellery as collateral. Only gold components are taken into account when valuing the jewellery. i.e., the computation does not include other metals, stones, or diamonds. Any person you have enough amount of gold with them can apply for a gold loan.

The quality and weight of the gold in the jewellery offered as collateral must meet certain requirements for it to be accepted as security. To be eligible for a gold loan, your jewellery must adhere to the requirements listed below:

Weight:

You must have often heard the word “24 karat gold”, but have you thought about what this means? So, it symbolizes the purity of the gold used in all products produced of the bright metal. Augmont accepts gold jewellery from 18 karats to 24 karats.

Gemstones:

Commonly, gemstones are affixed to gold jewellery. Just the jewellery's gold content is considered when it comes to gold loans. The value of the loan that the borrower is eligible for is unaffected by any gemstones affixed to the jewellery.

When obtaining a gold loan, it's important to remember that the loan is secured by the gold used to make the jewellery, not by the jewellery's market worth.

For long decades, taking a gold loan has been a favorite choice for people. Gold is a very demanded metal in the market, so its popularity will stay the same in the future as well. Therefore, Augmont GoldTech Pvt.Ltd has come up with the option of taking a gold loan online.

Taking an online gold loan is a very convenient option where you don't have to take the risk of carrying your gold jewellery physically to the shop.

You must think about the process to get Augmont gold loan online. Taking a gold loan online is as simple as doing online shopping. Firstly, for taking an online gold loan, you need to visit Augmont's website or download Augmont Gold for All app.

You need to download the app and click the apply button. Further, you will receive an OTP message on your mobile number. You just have to provide the OTP number in the provided space. The next step will lead you to complete the KYC process.

Within some time, Augmont's customer representative will call and fix an appointment with the sales executive to visit your place for the loan procedure. Once you fix the appointment with a sales representative, he will visit your place and complete the gold loan approval process.

Golden closing thoughts on gold:

Borrowers of gold loans can access a larger pool of money than they have to meet their financial obligations. They offer the same degree of use flexibility as personal loans but with cheaper interest rates.

This makes gold loans more practical than personal loans because the former are more affordable due to the former being secured by gold. The idle gold you have in the locker is not just an asset but a helping hand for your emergency time.